Help Save & Exit Check m 7 Problem 6-14 Deferred annuities; pension obligation [LO6-7, 6-9] Three employees of the Horizon Distributing Company will receive annual pension payments from the company when they retire. The employees will receive their annual payments for as long as they live. Life expectancy for each employee is 15 years beyond retirement. Their names, the amount of their annual pension payments, and the date they will receive their first payment are shown below: (EV of $1. PV of $1, EVA of $1. EVA of $1. EVAD of $1 and PVAD of S$) (Use appropriate factoris) from the tables provided.) e0ockbelow Annual Date of Pirst Print Employee PaynentPayeen Tinkers $22,000 Evern chance 32,000 27.0002/31/22 Required 1. Compute the present value of the pension obligation to these three employees as of December 31, 2018. Assume rate 10% interest 2. The company wants to have enough cash invested at December 31, 2021, to provide for all three employees. To accumulete enough cash, they will make three equal annual contributions to a fund that will earn 10% interest compounded o many. The first contribution will be made on December 31, 2018. Compute the amount of this required annual contribution (For all requirements, Do not round intermedilate calculations. Round your final answers to nearest whole dollar amount.) Employe Tinkers Evers Chance 2. Amount of annual contribution